Sysmex and bioMérieux Form a Commercial Joint Venture for the Japanese In Vitro Diagnostics Market
Sysmex Corporation (HQ: Kobe, Japan; President: Hisashi Ietsugu) and bioMérieux (Euronext: BIM) announce they have signed an agreement by which Sysmex will take a 34% equity stake in bioMérieux Japan, Ltd.
The new company, called Sysmex bioMérieux Co., Ltd. will promote and commercialize the entire bioMérieux product range in Japan starting April 1, 2008.
The joint venture will manage the regulatory filing and marketing activities of bioMérieux product ranges in Japan. The sales and customer service activities will be contracted out from the JV to Sysmex.
A major player in in vitro diagnostics, bioMérieux has a leadership position in microbiology analysis with the most comprehensive offer of products for streamlined workflow and improved quality in microbiology testing. bioMérieux has been operating in the Japanese clinical diagnostics and industrial testing market thus far through bioMérieux Japan, Ltd., a fully-owned subsidiary.
Microbiology testing is commonly practiced to identify the causative bacteria and to measure their susceptibility to certain antibiotics or drugs for the diagnosis and treatment of patients suspected of having infectious diseases. Market volume of microbiology testing in Japan is estimated at approximately 30 billion Japanese yen per year and regarded as a strategically important market, the second largest in size worldwide.
Sysmex and bioMérieux have been developing their global partnership since July 2007 when bioMérieux became a global partner to distribute Sysmex’s highly standardized and automated UF-1000i, urine sediment analyzer to their extensive clinical microbiology customer base. This new venture reinforces the long-standing partnership between the two companies.
“We are extremely pleased to engage in this joint venture with Sysmex for the Japanese market,” declared Stéphane Bancel, Chief Executive Officer of bioMérieux. “To date, bioMérieux Japan is number 19 in the Japanese IVD market, while bioMérieux is number 7 worldwide. We have been lacking scale in several critical functions like commercial operations and customer service. By partnering with the number 1 diagnostics company in the Japanese market, we will bring bioMérieux’s innovative products to a broader Japanese customer base. We could not have found a better partner for this key market,” he added.
“The collaboration with bioMérieux in the Japanese market will allow us to leverage our well-reputed sales and service network and infrastructure to provide expert solutions to customers,” stated Hisashi Ietsugu, President of Sysmex Corporation. “This agreement again confirms that the partnership between two leading companies in in vitro diagnostics is a strategic match as both complement each other.”
The restructuring of bioMérieux Japan, Ltd. into Sysmex bioMérieux Co., Ltd. will result in a non-recurring charge of approximately 2.5 million euros in bioMérieux’s 2008 results.
Sysmex Corporation, based in Kobe, Japan, is a world leader in clinical laboratory testing of blood, urine and other specimens, providing instruments and reagents for clinical laboratory testing as well as laboratory information systems as part of a comprehensive service and support system. Founded in 1968 as a company specializing in hematology, Sysmex Corporation has expanded to offer a comprehensive range of diagnostics products and solutions in the diagnostics field including coagulation, biochemistry, immunochemistry, urinalysis and other disciplines. The company is also actively involved in developing technologies and expertise to expand related areas of business such as point-of-care testing systems to enable faster diagnoses, centralized test data management for improved testing efficiency, and the establishment of local healthcare networks to link hospitals and clinics. Sysmex is developing new core technologies to address disease prevention and early cancer detection. In addition to clinical laboratory testing, the companies’ core technologies are being applied to industry, sports, and other new business fields. Recognized among the top 10 diagnostics leaders, Sysmex Corporation is listed in Tokyo Stock Exchange, First Section and the Osaka Securities Exchange, First Section (Ticker Code: 6869). For more information about Sysmex, please visit our website at http://www.sysmex.co.jp/en/.
Advancing Diagnostics to Improve Public Health
A world leader in the field of in vitro diagnostics for over 40 years, bioMérieux is present in more than 150 countries through 36 subsidiaries and a large network of distributors. In 2006, revenues reached €1.037 billion with 83% of sales outside of France.
bioMérieux provides diagnostic solutions (reagents, instruments, software) which determine the source of disease and contamination to improve patient health and ensure consumer safety. Our products are used for diagnosing infectious diseases and providing high medical value results for cardiovascular emergencies and cancer screening and monitoring. They are also used for detecting microorganisms in agri-food, pharmaceutical and cosmetic products. bioMérieux is listed on Euronext Paris. Other information can be found at http://www.bioMerieux.com/.
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